(Bloomberg) — The Federal Reserve and the European Central Bank must press ahead with interest-rate increases and not be blown off course by the fragility of the global economic recovery and vulnerabilities in the financial system, the OECD said.
UBS Group AG and Credit Suisse Group AG are opposed to a forced combination, even as scenario planning for a government-orchestrated tie-up continues, according to people with knowledge of the matter.
Scott Thiel, chief fixed-income strategist at BlackRock Inc., took an early retirement this week after a 20-year tenure that spanned the firm’s growth into the world’s biggest asset manager.
Thailand’s Prime Minister Prayuth Chan-Ocha has ordered the dissolution of the nation’s parliament, paving the way for elections to be held in May as the former coup leader seeks to extend military-backed rule despite his widespread unpopularity.
China’s started the year already in deficit for the first time since 2020, with weak land sales due to the real estate slump slashing government revenue.
Ferrari NV unveiled a convertible version of its entry-level coupe in the first of four new model debuts the company has planned for this year.
Chinese electric-vehicle maker Xpeng Inc. reported a wider-than-expected fourth-quarter loss and said deliveries could drop as much as 48% in the first three months of this year versus the same period in 2022.
Senior Japanese officials from the finance ministry, central bank and financial watchdog said they are ready to respond if needed in the wake of recent turmoil in the global banking industry.
Banks borrowed a combined $164.8 billion from two Federal Reserve backstop facilities in the most recent week, a sign of escalated funding strains in the aftermath of Silicon Valley Bank’s failure.
Prime Minister Fumio Kishida said the period to 2030 is the “last chance” to reverse a declining birthrate that threatens Japan’s long-term economic prospects, as he rolled out policies aimed at easing financial burdens on parents.
